BSE secures approval for "tough" new rules

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) finally approved the new listing rules last month, following a four-year consultative process that involved an extended feedback period with affected market players.

The new disciplinary structure comes as the local bourse battles to keep counters compliant, particularly in terms of publicising their financial statements on time, ensuring these are not qualified by auditors and paying regulatory fees.